vanguard_economicsfandomcom-20200213-history
Modern-Day Mexico
Modern-Day Mexico by: go2southpark Economic history in the 1700's It has been said that many of the problems in Mexico, particularly the government, start from the fact that after Spain took the government over, Mexico had to give Spain the majority of their wealth. Mexico gained its independence in the early 1800's, but there wasn't a sudden change in their culture. Until 1700, the territory of what would become Mexico included a vast number of states including California, Texas, Arizona, New Mexico, and other countries including Central America, Panama, Cuba, Hispaniola, Puerto Rico, Florida, and the Philippines. The government of Mexico back then was located in Mexico City. The GDP today The GDP of Mexico from 1960 up to this point went from 13.06 billion to 1.261 trillion USD, but Canada has a total of 1.827 trillion GDP in USD, while Brazil having a total GDP of 2.246 in USD. As you can see in this photo, Mexico's government dept to GDP has been increasing since 1990, but it started increasing dramatically after 2008. in 2014, the GDP of Mexico totaled up to 1.29 trillion and its GDP per capita was 17.3 thousand. Imports and Exports In 2014, Mexico exported 400 billion and imported 379 billion. that combination of importing and exporting goods has resulted in a positive trade balance of 21.3 billion. Some of Mexico's top exports include crude petroleum(37 billion), cars(33 billion), vehicle parts(23 billion), delivery trucks(22.7 billion) and computers(18.6 billion), while using the 1992 revision of Harmonized System classification. Some of Mexico's top imports include refined petroleum(22.9 billion), vehicle parts(22.7 billion), integrated circuits(13.5 billion), computers(10 billion), and broadcasting accessories(8.98 billion). Standard of Living Mexico has made a lot of progress and effort into improving the quality of how the citizens along with themselves live, especially when it comes to education, health and employment. Mexico has been ranked above average when it comes to civic engagement, but has been ranked below average when it comes to education, financial ordeals, employment, health, etc. Even though money cannot buy happiness, it is a basic necessity for achieving higher standards of living. When it comes to employment, nearly 60% of people aged 15-64 have a paying job. Good education is an important requirement in getting a job. 34% of adults aged from 25-64 have completed upper secondary education. Most citizens in Mexico have a lifespan of 75 years from when they are born. Life expectancy of women in Mexico is 77 years. So overall, Mexico has a moderate standard of living that is not too low, and not too high. Trading partners and agreements Some of the top exporting partners in Mexico include the United States(291 billion), Canada(24.5 billion), China(7.89 billion), and Brazil(5.35 billion). Some of the top importing partners in Mexico include the United States(194 billion), China(58.7 billion), Japan(15.8 billion), South Korea(13.4 billion), and Germany(12.8 billion). Mexico has made 13 free trade agreements with 45 different countries and has access to over 60% percent of the worlds GDP. Some of the free trade agreements that Mexico has made include NAFTA, G3, EFTA, and has even made agreements with Israel, Chile, Nicaragua, Costa Rica, and the European Union. sources: gailtheactuary tradingeconomics the offshore group OEC OECD World Bank trading economics http://www.sjsu.edu/faculty/watkins/mexhist01.htm Category:Economy